Abstract
It is an established proposition of trade theory that free international trade, given certain restrictive assumptions, is the best regime for the world in that it increases countries’ potential welfare. It is therefore pertinent to ask why it is that nations erect impediments on their trade. To answer this question one needs to be familiar with the branch of trade theory generally referred to as the theory of trade (commercial) policy.
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© 1984 Ali M. El-Agraa
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El-Agraa, A.M. (1984). Protection: a General Background. In: Trade Theory and Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06943-9_2
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DOI: https://doi.org/10.1007/978-1-349-06943-9_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-06945-3
Online ISBN: 978-1-349-06943-9
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